Dear Members.
Greetings!
Requested to share your professional views, if gift in form of money received via cheque amounting to Rs.1,00,000/- from relative (brother), if gift deed is to be executed, what should be the value of stamp paper on which gift deed should be executed if amount received is upto Rs.1,00,000/-.
Look forward for your revert!
Thanks
No Deed need to be prepared for Exchange of Money.
And It is Fully Exempted from Tax if You recieve it from your Brother..
Different states have different stamp duties in Karnataka its Rs.1000 if with in the family menber and Rs.500/- for registration and 5% of market value and 1% Registration fee if its other tahn family member
gift deed has to be Prepered ITO will ask for it If the file comes for scrutiny
Sir,
In this case, what procedure to be followed in Delhi?
In Delhi
| Stamp duty and transfer duty @ 4% if the donee is a woman and @ 6% if the donee is a man. Registration fee is 1% of the total value+Rs.100/- pasting charges. |
"Rs. 100/- pasting charges" is it the amount of stamp paper? Please clarify.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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